LG Electronics recently announced the acquisition of AppleMango, a South Korean EV charging solutions provider, along with GS Energy and GS Neotek, in an endeavour to boost its own EV business.
“The EV charging market is expected to grow rapidly due to the surging demand for more eco-friendly vehicles,” said Paik Ki-mun, senior vice president of LG Electronics Business Solutions Company. “Leveraging our know-how and experience in the B2B sector, we will offer customized, integrated vehicle charging solutions for diverse customers, enhancing the competitiveness of our existing business and ensuring our readiness for future opportunities.”
This strategic move, combined with LG’s prowess and plenty of experience in both B2C and B2B segments, will facilitate the company to create comprehensive, feature-rich charging stations and create a user-friendly interface and real-time control/management. LG continues to strengthen its EV charging solution business by leveraging its exceptional digital signage technologies – specifically, its IP-rated outdoor digital display with a sturdy, dust- and water-proof enclosure.
Launched in 2019, AppleMango has designed proprietary technologies and systems, including a slim, fast charger, to fulfil the rising global market for EV charging solutions. In addition to the company’s market-leading charging tech, LG will secure access to the necessary operational infrastructure by working closely with GS Energy and GS Neotek. Both GS companies have considerable experience in operating EV charging stations and related businesses.
LG now boasts an extensive EV business portfolio, with the recently-launched EV charging solution business joining other LG-owned concerns, including the LG Vehicle Component Solutions (VS) Company, ZKW Group and the LG Magna e-Powertrain joint venture.
LG has been a constant supplier of EV charging control systems to South Korean oil refiner GS Caltex since 2020, and boasts around 130 EV sockets installed at 80 stations nationwide, Maeil Business reported. Now it plans to establish an electric vehicle charger production line at LG Digital Park by the end of this year; the aim is to provide customized charging solutions for private residences, shopping malls, hotels, and public institutions.